Fund Objective
The investment objective of the Scheme is to generate reasonable returns commensurate with low risk and providing high level of liquidity, through investments made in debt and money market securities having maturity of 1 business day. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.
Notes
This scheme is designed for investors who want to invest their money for a very short time. To achieve this, the scheme will mainly invest in low risk and highly liquid options such as Tri-party REPOs, debt instruments, money market securities, and cash equivalents that mature overnight. In case of securities with put and call options (daily or otherwise) the residual maturity (deemed or actual) shall be on or before the next Business Day. Investments under the Scheme would be made predominantly in Tri Party Repos, overnight reverse repos and fixed income securities/instruments with a residual maturity of 1 business day. The Scheme may also invest in units of Overnight Schemes of other mutual funds.